IIFLCAPS
IIFL Capital Services share price & financials
- Price
- ₹344.4
- Market cap
- ₹10.6k Cr
- Sector
- Financial Services
- Calls analysed
- 6
IIFL Capital Services Limited Q1 FY27
What went well
- Institutional and investment banking revenue increased 27% QoQ to INR207 crores from INR163 crores in Q4 FY26.
- Operational PBT grew 4% QoQ to INR149 crores.
- Retail broking revenue increased 13% YoY to INR297 crores from INR264 crores in Q1 FY26.
What to watch
- Financial product distribution income declined 31% QoQ to INR125 crores from INR182 crores, primarily due to the Q4 peak of insurance income and lumpy transactional income.
- Distribution income was down 14% YoY due to certain transaction income booked in the previous year.
What IIFL Capital Services Limited does
IIFL Capital Services is a full-service financial-services group built around three linked businesses: retail equity broking (including margin trade financing), institutional equities broking and investment banking (equity capital markets, M&A/advisory), and wealth management with distribution of third-party financial products (mutual funds, bonds, insurance, PMS, AIFs) to retail, HNI/UHNI and institutional clients. It earns primarily through brokerage on client trading volumes, investment-banking fees on capital-markets transactions, and distribution/trail commissions on financial products sold through its own relationship managers and a network of external wealth managers. It also holds company real estate that generates a small rental income stream.
Segments
- Retail Equities
- Institutional Equities & Investment Banking
- Financial Product Distribution / Wealth Management
- Rental Income
- Institutional Equities empanelled clients
- 1,000+
- Stocks under research coverage
- 315+
- Equity research analysts
- 49
- Sectors covered by research team
- 20+
- Share of India's market cap covered by research
- ~72%
- Branches nationwide
- 100+
Guidance record · Q1 FY27
what the last two calls moved 9 tracked 0 delivered 4 missed 5 open- Wealth Management AUM missed said Q4 FY25 Promised: roughly close to about Rs. 800 crores -Rs. 900 crores of assets under management and this we think should easily double in the next one year. Q1 FY27: Deadline passed in Q4 FY26. Promise remains missed.
- Overall Business Growth at risk said Q4 FY26 Promised: So, I think we have enough to grow in the next by 20% in the next. Q1 FY27: Consolidated operational revenue was flat YoY at INR 631 crores, not showing progress towards the 20% growth target.
- Wealth Management Profitability on track said Q2 FY26 Promised: over the next maybe two years to three years, this business will become profitable. Q1 FY27: No direct update on profitability. FPD income, which includes wealth, declined 31% QoQ and 14% YoY, attributed to seasonality. Strategic focus on growing AIF/PMS continues.
All 9 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 2.3%, net profit up 4.5% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 645 | 583 | 537 | 617 | 572 −11% | 586 +1% | 644 +20% | 631 +2% |
| EBITDA | 266 | 245 | 186 | 221 | 213 −20% | 190 −22% | 224 +20% | 226 +2% |
| Net profit | 205 | 197 | 128 | 176 | 85 −59% | 188 −5% | 115 −10% | 184 +5% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +11.5% 1Y
1Y: ₹304.05 on 10 Sept 2025 → ₹339.05. High ₹395.5 (7 Jan 2026), low ₹244.15 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.1%
- 30 Jul
- Q4 FY26
- +4.1%
- 5 May
- Q3 FY26
- −5.2%
- 11 Feb
- Q2 FY26
- −7.0%
- 10 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 21.4% a year over 3 years, FY23 to FY26. Operating margin widened to 35.1%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹1.4k Cr | ₹2.2k Cr | ₹2.4k Cr | ₹2.4k Cr |
| Operating profit | ₹465 Cr | ₹874 Cr | ₹997 Cr | ₹848 Cr |
| Operating margin | 34.4% | 40.4% | 41.5% | 35.1% |
| Interest | ₹75 Cr | ₹148 Cr | ₹180 Cr | ₹209 Cr |
| Depreciation | ₹67 Cr | ₹113 Cr | ₹55 Cr | ₹65 Cr |
| Net profit | ₹249 Cr | ₹515 Cr | ₹712 Cr | ₹564 Cr |
| Net margin | 18.4% | 23.8% | 29.6% | 23.3% |
| Cash from operations | ₹-793 Cr | ₹-118 Cr | ₹871 Cr | ₹-1.1k Cr |
| Free cash flow | ₹-798 Cr | ₹-138 Cr | ₹922 Cr | ₹-936 Cr |
| ROCE | 23.0% | 35.0% | 33.0% | 21.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹61 Cr | ₹61 Cr | ₹61 Cr | ₹62 Cr | ₹62 Cr | ₹62 Cr |
| Reserves | ₹907 Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.7k Cr | ₹2.7k Cr | ₹3.0k Cr |
| Borrowings | ₹292 Cr | ₹607 Cr | ₹486 Cr | ₹1.2k Cr | ₹1.7k Cr | ₹1.8k Cr |
| Other liabilities | ₹2.3k Cr | ₹4.3k Cr | ₹3.4k Cr | ₹4.9k Cr | ₹4.5k Cr | ₹4.7k Cr |
| Total liabilities | ₹3.5k Cr | ₹6.0k Cr | ₹5.2k Cr | ₹7.9k Cr | ₹9.1k Cr | ₹9.6k Cr |
| Fixed assets | ₹403 Cr | ₹482 Cr | ₹440 Cr | ₹379 Cr | ₹284 Cr | ₹295 Cr |
| Capital work in progress | ₹132 Cr | ₹3 Cr | ₹1 Cr | ₹1 Cr | ₹3 Cr | ₹1 Cr |
| Investments | ₹74 Cr | ₹228 Cr | ₹90 Cr | ₹159 Cr | ₹580 Cr | ₹390 Cr |
| Other assets | ₹2.9k Cr | ₹5.3k Cr | ₹4.7k Cr | ₹7.3k Cr | ₹8.2k Cr | ₹8.9k Cr |
| Total assets | ₹3.5k Cr | ₹6.0k Cr | ₹5.2k Cr | ₹7.9k Cr | ₹9.1k Cr | ₹9.6k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +2.44 pp while FIIs trimmed −1.90 pp. The shareholder count shrank 5% to 70,558.
- Promoters
- 30.7%
- FIIs
- 15.3%
- DIIs
- 4.7%
- Public
- 49.3%
Since Jun 2025
- Public +2.44 pp
- FIIs −1.90 pp
- Promoters −0.35 pp
How it drifted, 12 quarters
Over this window the public fell from 52.0% to 49.3% — −2.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 31.1%, FIIs 13.6%, DIIs 3.3%, Public 52.0%.Dec '23: Promoters 31.0%, FIIs 15.5%, DIIs 3.3%, Public 50.2%.Mar '24: Promoters 30.9%, FIIs 15.2%, DIIs 3.4%, Public 50.5%.Jun '24: Promoters 30.9%, FIIs 17.5%, DIIs 3.2%, Public 48.4%.Sep '24: Promoters 30.8%, FIIs 19.0%, DIIs 3.7%, Public 46.5%.Dec '24: Promoters 30.7%, FIIs 19.1%, DIIs 4.0%, Public 46.2%.Mar '25: Promoters 30.7%, FIIs 19.0%, DIIs 4.3%, Public 46.0%.Jun '25: Promoters 31.0%, FIIs 17.2%, DIIs 4.9%, Public 46.8%.Sep '25: Promoters 31.0%, FIIs 16.9%, DIIs 5.0%, Public 47.1%.Dec '25: Promoters 30.9%, FIIs 16.5%, DIIs 5.4%, Public 47.2%.Mar '26: Promoters 30.9%, FIIs 16.3%, DIIs 5.6%, Public 47.2%.Jun '26: Promoters 30.7%, FIIs 15.3%, DIIs 4.7%, Public 49.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of IIFL Capital Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| FIH Mauritius Investments Ltd | 27.00% | −0.18 pp |
| Nirmal Bhanwarlal Jain | 14.98% | −0.10 pp |
| Bank Muscat India Fund FPI fund | 4.02% | unchanged |
| Madhu N Jain | 3.85% | unchanged |
| Venkataraman Rajamani | 3.57% | unchanged |
| Hwic Asia Fund Class A Shares FPI fund | 3.31% | unchanged |
| Mansukhlal Jain & Pritesh Mehta (in their capacity as Trustee of Nirmal Madhu Family Private Trust) | 3.19% | unchanged |
| Aditi Avinash Athavankar (in the capacity as Trustee of Kalki Family Private Trust) | 2.87% | unchanged |
| Theleme India Master Fund Limited FPI fund | 1.73% | −1.04 pp |
| Orpheus Trading Pvt Ltd | 1.28% | unchanged |
| Abakkus Emerging Opportunities Fund-1 AIF | 1.24% | unchanged |
| Zafar Ahmadullah | 1.15% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
All earnings calls (6)
Read the Q1 FY27 call →Learn to analyse IIFL Capital Services Limited
Guides on how to read this kind of business and the numbers that matter.